A bill to deny an investment tax credit and accelerated cost recovery for any property not made in the United States and having less than 85 percent domestic content, except property for which there is no substitute having not been made in the United States with at least 85 percent domestic content.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to disallow the investment tax credit and the tax deduction for accelerated cost recovery for property with insufficient domestic content. Specifies that property shall be deemed to have insufficient domestic content if the property is not manufactured or assembled in the United States and less than 85 percent of it is attributable to domestic content. Exempts from such domestic content requirement any property for which there is no substitute manufactured or assembled in the United States, at least 85 percent of which substitute is attributable to domestic content.…